Data and reporting
Sustainability Reports
Principles for Responsible Banking Report 2022
Taskforce for Climate-related Financial Disclosure Report 2023
Policies and Frameworks
GIB Sustainable & Transition Finance Framework 2023
ESG statements - Cyber Security, Data Privacy, and Business Continuity
Security, Health, and Safety Environment Policy
GIB BSC Board Diversity Policy Statement
Assurance Statements
The independent Second Party Opinion, performed by ISS Corporate Solutions
2022 Independent Limited Assurance Statement
2021 Independent Limited Assurance Statement
Metrics and targets
We have a number of sustainability targets including environmental and social targets.
Environmental targets
Carbon emissions targets
We are committed to hold ourselves to high environmental standards. As part of our commitment, we are committed to reduce our scope 1 and scope 2 greenhouse gas emissions in our Bahrain, Saudi Arabia, United Arab Emirates, United Kingdom and United States offices.
We set ourselves carbon reduction targets using the Absolute Contraction approach. According to the Science Based Target for the Financial Sector, this approach is the most straightforward method to link reduction targets to the Paris Agreement goal of limiting global temperature rises to below 2°C. Under this method, a minimum of 2.5 per cent annual absolute emissions linear reduction is required to be in line with the 2°C target. GIB committed to reduce its scope 1 and 2 emissions by 11.89 per cent by 2025 compared to 2020 baseline to be in line with the 2°C target, which is equivalent to a 2.5 per cent per year reduction.
Our progress:
In 2022, GIB’s scope 1 and 2 emissions were assessed as kgCO2e 9,368,291.78. This was increased by 19 per cent relative to 2021 but reduced by 18 per cent relative to 2020. This meant that GIB continued to over achieve its 2025 target (-18 per cent reduction compared with a target of -11.89 percent). However, GIB failed to meet its year-on-year reduction target of -2.5 per cent by a sizeable margin.
To mitigate an increase in GHG emissions in subsequent years, GIB plans to take a number of steps in 2023. These include:
• Changing all Bahrain office’s lights to energy efficient LED lighting.
• Introduce renewable energy to the Bahrain office.
Social targets
Female representation targets
In 2021, we set a 3-year target to increase group-wide female representation by 1 percentage point per year – to 29 per cent in 2021, 30 per cent in 2022 and 31 per cent in 2023. These targets were ambitious given the regional context of relatively low levels of female workforce participation in our largest country, Saudi Arabia.
Our progress:
We have exceeded both the 2021 target with 29.64 per cent and for 2022 we achieved 32.09 per cent female representation.